Bishop Securities Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 04346090 (England and Wales)

Abbreviated Accounts

for the Year Ended 31 March 2015

for

Bishop Securities Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

J W White

REGISTERED OFFICE:

Bishops House

42 High Pavement

The Lace Market

Nottingham

NG1 1HN

REGISTERED NUMBER:

04346090 (England and Wales)

ACCOUNTANTS:

Mabe Allen LLP

Chartered Accountants

The Old Manse

29 St. Mary Street

Ilkeston

Derbyshire

DE7 8AB

FIXED ASSETS

Investment property

2

2,050,000

2,050,000

CURRENT ASSETS

Cash at bank

103,024

87,805

CREDITORS

Amounts falling due within one year

787,992

917,399

NET CURRENT LIABILITIES

(684,968

)

(829,594

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,365,032

1,220,406

PROVISIONS FOR LIABILITIES

37,155

35,236

NET ASSETS

1,327,877

1,185,170

CAPITAL AND RESERVES

Called up share capital

3

80

80

Capital redemption reserve

20

20

Investment property reserve

668,843

668,843

Profit and loss account

658,934

516,227

SHAREHOLDERS' FUNDS

1,327,877

1,185,170

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 12 December 2015 and were signed by:

J W White - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The principal accounting policies adopted in the preparation of the financial statements are set out

below and have remained unchanged from the previous year, and also have been consistently applied

within the same financial statements.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover comprises rental income charged by the company, net of value added tax.

Investment property

The investment property is included in the balance sheet at its open market value in accordance with

the Financial reporting Standard for Smaller Entities (effective April 2008) and is not depreciated. This

treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated

but is, in the opinion of the directors, necessary to give a true and fair view of the financial position of

the company.

Deferred tax

Full provision is made for deferred tax assets and liabilities arising from all timing differences between

the recognition of gains and losses in the financial statements and recognition in the tax computation.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets in the

financial statements.

A net deferred tax asset is recognised only if it can be regarded are more likely than not that there

will be suitable taxable profits from which the future reversal of the underlying timing differences can

be deducted.

Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time

the timing differences are expected to reverse.

Deferred tax assets and liabilities are not discounted.

2.	INVESTMENT PROPERTY

Total

£

COST

At 1 April 2014

and 31 March 2015

2,050,000

NET BOOK VALUE

At 31 March 2015

2,050,000

At 31 March 2014

2,050,000

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

80

Ordinary Shares

£1

80

80

4.	CONTROLLING PARTY